Welcome to Accountancy Portal

CMA 2.0 - Portal Launched

Tuesday, August 19th, 2008

I had been busy in the development of Portal http://cmaindia.informe.com which is dedicated to Management Accountants of India. In development of the portal, inputs have been provided by lot of members especially Deverajan, RV, Prabhakar, Ashutosh and Ramesh Joshi without which it would not have been a success.

The portal has general topic of discussion with members of public and dedicated area for Members of ICWAI. This platform gives an opportunity to every member to brand himself in the professional network. You will notice on every post the Educational Qualification, Website, IM details and when he/she become member of ICWAI. If a member does not have his own website, I have suggested, everyone to have their profile of linkedin. Linkedin on its own will open lot of opportunities by social networking.

Why Informe ?: The choice of portal is for the simple reason it supports Web 2.0 Technology

What is Web 2.0 ?

Tim O’Reilly contrast the topic on his blog on Web 1.0 with Web 2.0

Web 1.0 –> Web 2.0
DoubleClick –> Google AdSense
Ofoto –> Flickr
Akamai –> BitTorrent
mp3.com –> Napster
Britannica Online –> Wikipedia
personal websites –> blogging
evite –> upcoming.org and EVDB
domain name speculation –> search engine optimization
page views –> cost per click
screen scraping –> web services
publishing –> participation
content management systems –> wikis
directories (taxonomy) –> tagging (”folksonomy”)
stickiness –> syndication

Brand CMA 2.0:

The principle for today’s Management Accountant is the same and that is the foundation portal http://cmaindia.informe.com/. The content of the portal will be driven by the participation of the members . The reader of the portal will be benefited by the content and quality of discussion. However the real beneficiary would be the one who will be initiaties the discussion, persuasively discusses on topics and arrives at a solution.

Karma - in discussion board terminology. Other members will rate him/her and comment why they are rated him. This will encourage the contributor to think about how his actions will benefit the group as a whole.

I would invite you to join the CMA Portal by registering and participate in professional networking. Click on following link to Register. Please promote the portal in your professional network.

Regards,

Santosh Puthran

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Kick Start your career with Linkedin

Friday, August 8th, 2008

I read the article on the Computer Weekly “Execs use social networking to climb career ladder” by Rebacca Thompson.

A survey of 500 senior executives shows professional social networking sites are set to rival executive job boards as a way of finding new career opportunities.

Some 90% of respondents said they were registered on sites such as LinkedIn, compared with just 50% posting their CV on a job board.

This is quite true. You register your profile on linkedin and start networking with your colleagues. You make yourself visible to your network. Similarly you will instantly know about any change in the profile of your network.

Linkedin competes with Ryze, XING, Plaxo, Yahoo! Kickstart and, the social networking site Facebook, among others. However, LinkedIn is centred on helping its users to capitalise on their business contacts, and features searching capabilities that allow users to find jobs, contacts and answers to business queries.

I am fan of the job site monster since the quality of jobs as well as head-hunters are quite good. If you are looking for jobs outside your company then it would be a good idea to login to monster every day. You will notice head-hunters calling you up.

The other tip to move internally in your organisation is to check out resignations in your company. Just give a call to the line manager of the person who has resigned and ask him/her whether that role is available. The line manager will be pleased to take action quickly, if you are right person for the job.

So networking internally or externally helps.

Connect me on Social Networking websites :-

Facebook - Stumbleupon - Digg - Twitter - Technorati - FriendFeed - Plurk

Regards,

Santosh Puthran

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Promoting Your website - Context Advertising

Wednesday, July 16th, 2008

Worms reduce waster upto 80%, Google Advertising does the same for our marketing - Heather Gorringe, www.wigglywigglers.co.uk

There is a very good article “Cost and Management Accountant (CMA) – an Entrepreneur setting up practice as a CMA by Mr V R Kedia” published on the Management Accountant Journal of ICWAI. He has given useful tips on starting a practice and how to promote and build a network.

With the world on the Internet, you can get business if you have effective Internet presence and use Contextual advertising. A couple of tips:

Professional Website: Your firm’s should be a professionally looking website. It should give a details about your firm, contact information and updates on taxation / laws on the area that you practice. Anyone will be impressed when your information is up-to-date and receives a response when they contact you. Check with your Accounting Body about guidelines of the website. Master your firm’s website in 10 minutes on Accounting Web - Richard Sergeant has very good tips. Read more.
Contextual advertising: A contextual ad system scans the text of a Web site for keywords and returns ads to the Web page based on what the user is viewing, either through ads placed on the page or pop-up ads. For example, if the user is viewing a site about sports, and the site uses contextual advertising, the user might see ads for sports-related companies, such as memorabilia dealers or ticket sellers. Contextual advertising also is used by search engines to display ads on their search results pages based on what word(s) the users has searched for.

E.g. When you do a google search, you will notice sponsor ads that relates to your search . So advertising is key word targeted.

How it Google Adwords work: When you create an AdWords placement-targeted ad, you choose the exact Google Network content sites where your ad will run and specify the maximum amount that you are willing to pay for each click (CPC) or each thousand page views (CPM) on that site. You pay whenever someone views your ad. As with keyword-targeted ads, the AdWords Discounter automatically reduces the actual amount that you pay to the lowest cost needed for your ad to win the placement on that page.

Can you target a specific location ? The answer is “Yes”. The ads about your firm’s website will be displayed in a specific geography that you decide. So you do not spend an enormous amount on advertisement. Example of target advertisement. Click to enlarge the photo.

You can advertise on following websites:

Google Adwords , Kontera, Chitika Use one of them or similar to them that will drive traffic to your website and generate inquiries for you.

3. Social Networking: Professional social networking sites are Linkedin and Xing that are quite popular. You should use it extensively to network with other professionals. Participate in the discussion forums on topics of your practice and you will get noticed. This will build up your internet presence.

You want to search for Rajendra Patil who specializes on Activity Based Management.

You find Rajendra Patil when you link him what he practises. Internet presence is very vital for the business.

I invite your views on this topic and discuss other ways of promoting your firm.

Regards,

Santosh Puthran

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Who will be a better Accountant - Shahrukh Khan or Aamir Khan ?

Wednesday, June 25th, 2008

Shahrukh Khan and Aamir Khan are two famous personalities in Bollywood. Both are equally successful and have a huge fan following. It depends upon what you consider success? Is it female fan following or fame or money. Never mind !!!

I am looking at the traits each one has. Then let you decide who will be a better accountant. Please use your imagination which one is more suitable to be a successful management accountant.

Shahrukh Khan

Mostly acts in movies that have contemporary themes.
Mostly works with a same set of people and makes movies with them and repeats the success.
He has a good PR and he tours around the world. All the tours are well publicized giving the details of what he eats, whom he meets and when he goes to sleep. This makes him known and people are interested in his next movie release.
He is approachable and gives frequent interview on TVs.
He started as a TV star. Sometimes he host TV quiz shows.
People know him very well since he acts in TV commercials. He makes good use of TV as a medium to maintain his popularity.
Sometimes experiments with movies with a different story and that gets him noticed.
Dances very well and challenges anyone to dance with him.

Aamir Khan

Some say he is a tough guy and he goes into minute details during movie making.
His movies are innovative, different, story oriented and at the same time convey social theme. More focused on reality.
He does not socialize and hates interviews.
He prefers that his work talks for himself rather than him.
He does not believe in awards like Filmfare but attempts for Oscars.
He can dance very well in movies but he does not tour or dance in shows. So general public do not know whether he is interesting or boring.
He makes few movies but they are blockbusters.
He always gives opportunities to new people in his movies and repeats his success with new set of people.

Aamir and Sharukh Khan are successful personalities in Bollywood. To summarise the traits above are leadership style, team management, self promotion, work and standards/ethics. Both the actors are successful using these traits to a different degree.

Please vote on who will be a successful accountant in a corporate environment depending on the traits they display.

I would like you to use your own imagination in making your choices and also add comments on the blog post. Looking forward to see your vote and comments.

Don’t forget Rate this Blog post.

Regards,

Santosh Puthran

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Digsby - IM for multiple accounts

Sunday, June 8th, 2008

I was on instant chat with Murthy on various topics on Internet and social networking.

Murthy, from Rajamundry, India, is an expert on these Bookseller, Publisher, BOTB Indexer, Consultant in Office and Personal productivity tools specializing in Virtual Working. Founder of Project Vyas through which he is trying to teach people of all walks of life to use Internet for their personal and professional use. He is also part of Citizenship program proposed by Jaycees to teach Internet to ten million people over a period of time.

He suggested me to use all in one Instant Messaging Client Digsby. It is a small application that has to be downloaded on your pc and it helps you combine the chat accounts like MSN, Yahoo, Google Talk, Jabber, Facebook and ICQ in a single window. You don’t have to open multiple applications to chat with friends in yahoo, msn, facebook and other accounts. Click here to know more about the features. It is really awesome !!!

I would recommend you download the application if you are using multiple accounts and want to save time.

The readers and subscribers of Management Accountant Blog have been steadily increasing and objective of the blog is to promote interaction among the members. I have been getting emails from many readers who have accounting or consulting firms but they do not have their own website or a profile on the internet. I feel they would be losing on opportunities of people contacting them for their expertise.

Facebook: I am toying with the idea that the subscribers of the Management Accountant Blog should have their profile on Facebook and this will help us to know each other better.

Facebook is currently one of the most popular social networking platform to connect with people. There are other professional sites are Linkedin which allows you to connect with people you know and Spock to consolidate your web presence. The objective is that everyone should benefit from social networking in terms of business and employment with no extra costs.

I would request you to open an account in Facebook and start networking with your friends and colleagues. Also download Digsby to consolidate your IM accounts. I would love to hear your experiences on both the platforms.

Cheers,

Santosh Puthran

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What is a RSS Feed ?

Wednesday, May 28th, 2008

Raj asked me following questions:

What is the difference between Stumbleupon and SPOCK?
What is meant by Feed,in one of your article you mentioned about RSS Feed.

I believe that most of the readers of Management Accountant Blog will have similar questions.

Stumbleupon: If you want to buy a TV, you will look for an expert guide on the features, price, competition analysis, ratings and so on and forth. And then you decide which one to buy. However, now a days, you will look for the reviews made by the ordinary users who have bought the actual product. More the reviews you are better informed to make decisions. Stumbleupon works on same concept. Click here to know more

Easy to Use, Community-based surfing:

The StumbleUpon Toolbar is integrated with the user’s browser to allow for one-click access to quality web sites. A simple 2-level rating system gives users the opportunity to pass on or give their opinion on any webpage with a single click. These ratings also connect people sharing unique combinations of interests. Stumblers share their favorite web sites and interact with other users to further improve their web surfing experience.

Spock: Spock is the first editable search engine for finding people on the web. You may be participating in lot of forums and are in the news quite often. All these information are fragmented.

E.g.

You have blog or a website,
Professional network using linkedin,
Have your Accounting Firm’s website
Actively participate in a photography discussion forums
And you are in news for doing a promoting your profession.

The people who know closely only know about you. Spock will help people to know about you. with a search on the internet. If you are a accountant or Consultant in practise then Spock is one of the best way to promote yourself. Click here to know how it works.

What is meant by Feed ,in one of your article you mentioned about RSS Feed.

There are two short videos that explains how RSS functions

Google Reader - Introduction

RSS Feeds - Introduction

Not able to view above two videos. Click here to view them

Don’t forget to subscribe to the following feeds. The feeds are driven updates from informative sites.

Subscribe to RSS Feeds and be up-to-date

If you have any questions, please comment on the blog or write to me, I will try to address them. The questions that you have may also be relevant to other readers of the Management Accountant Blog.

Regards,

Santosh Puthran

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How to Share Blog Posts

Sunday, May 25th, 2008

You have been reading Management Accountant Blog and receiving updates via email or RSS feeds. Have you looked at the options of sharing the posts to your friends or professionals in Accountancy. This would make the Management Accountant Blog richer and interactive when people start to discuss articles, give opinions and view points.

Here are few tips how you can share the articles of Management Accountant Blog with your friends

ShareThis . On the footer of every post, there is an icon ShareThis, that helps you share the post with your friends by email or recommend it to social network sites like Digg, stumbleupon, technorati, myspace and many more. The add-on makes your life easy in sharing the posts.
SezWho: Your rating on the blog will definitely help me to improve the contents on the blog. Moreover, if you are a blogger or website owner, you should install sezwho add-on your website. To demonstrate hover the cursor on check me out in this post below. You notice the posts and comments of the commentor. The more you rate posts, more people are going to know about you.
Stumbleupon: Stumbleupon addons on your browser lets you share informative and interesting website you stumbleupon with your friends by click. Similarly updates from your friends are visible to you. Whenever I get bored and have nothing to do, then I start clicking on photo and video icons on the tool bar. I must admit, it shows me the best photos and videos people have stumbleupon across the world. Add me as your friend on http://talk2santosh.stumbleupon.com and share Management Accountant post with your friends.
Digg: This website has most number of users who are actively “Digging”. They are interesting, informative and funny. You can customise your Home Page to your preferences and read the popular sections. Click here for Firefox Addon. Add me as your friend on http://digg.com/users/talk2santosh/friends/

I have consolidated the feeds that I regularly visit to updates myself to the latest happenings for the benefit of the readers:

RSS Feeds to keep you alive and up-to-date

When you click on the above links, you have the options to subscribe to it by email, google reader or my yahoo or any front page reader you use. This will help you remain up-to-date with accountancy, technology and sap jobs. I will update the feeds with more websites / blogs for the benefit of Management Accountant readers.

Last but not the least, I would request you to provide a feedback about the Management Accountant Blog on this link. Click here.

Keep rating and commenting. Enjoy reading the Management Accountant Blog.

Regards,

Santosh Puthran

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Do President or CEO of Accounting Bodies Blog ?

Saturday, May 24th, 2008

Another word for technology is “Change”. One is curious to know how the old hogs adopt to the change in technology. CEOs / Presidents of most of the Accounting Bodies are in age group of 45+. I found only two CEOs who blog

Should the President or CEOs should blog ? A bit contentious issue. But it happens the same when a new technology is introduced. Remember what Western Union said to Bell, Inventor of Telephone.

“Mr. Bell,” he wrote, “after careful consideration of your invention, while it is a very interesting novelty, we have come to the conclusion that it has no commercial possibilities… What use could this company make of an electrical toy?

The companies have been promoting Instant Messenger, Collaborative Blogs or wikis for their employees as official communication. So companies have been adopting the technology and learn to use them effectively for business.

I feel that CEOs / President of Accounting bodies should blog just like they communicate. The blog post may not be frequent but it will influence the members of their body to embrace technology quickly and collaborate.

What do you think ? I would be happy to read you views on the subject. Please post comments on the post.

Regards,

Santosh Puthran

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www.sezwho.com - Ratings and Community add-on

Sunday, May 18th, 2008

I found the website www.sezwho.com as I was browsing www.blogcatalog.com. As I read about sezwho, I realised that this is website had perfect add-on to blend with the blog for readers to rate the contents. Rating and commenting on individual posts by readers of MA blog will help me to improve the contents of the blog and tune it for readers requirements.

What is SezWho ?

SezWho enables content ratings, universal contributor profiles, and reputation-weighted content discovery to be added to blogs, forums, message boards, user reviews, or any other place where readers and contributors interact. SezWho works with most social media platforms and it does not replace the site.s comment system or host any site content.

Readers can discover relevant and credible content, contributors gain a web-wide recognition for their efforts, and site owners can drive traffic while engaging their community.

I would request the readers of Management Accountant blog to comment on the posts and rate them. Your feedback will help me to enhance and improve the blog contents which in turn will benefit everyone of us. Moreover I will recommend sezwho add for your blog, if you are also blogging.

Regards,

Santosh Puthran

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Combined Code on Corporate Governance, UK

Sunday, April 20th, 2008

The Combined Code on Corporate Governance sets out standards of good practice in relation to issues such as board composition and development, remuneration, accountability and audit and relations with shareholders.

All companies incorporated in the UK and listed on the Main Market of the London Stock Exchange are required under the Listing Rules to report on how they have applied the Combined Code in their annual report and accounts. Overseas companies listed on the Main Market are required to disclose the significant ways in which their corporate governance practices differ from those set out in the Code.

The Combined Code contains broad principles and more specific provisions. Listed companies are required to report on how they have applied the principles of the Code, and either to confirm that they have complied with the Code’s provisions or - where they have not - to provide an explanation.

Source: Financial Reporting Council

The rule is principle based (voluntary) to encourage the companies to follow the best practises.

Path of Glory

Source: Path of Glory

As a finance professional do you any best practise for yourself. I feel the best practices for Finance Professionals would be:

Follow the Ethics and Standards of your Accounting Body and IFAC.
Participate in Workplace and Forum (both physical and virtual), question intelligently, debates constructively and challenge rigorously.
Support Executives in their leadership of the business.
Listen sensitively to the views of others
Continually develop and refresh knowledge and skills. Share knowledge with others.
Plan your work and deliver as per schedule.
Actively Network with Accounting Fraternity and with the business.
Set career goals and work towards achieving it.
Promote myself as a professional so that people around and the world know that I exists. Volunteer for tasks that are challenging.
Take 25 holidays every year and go places to see something new places. This is a good way not to get burn out by following the above 9 points. More important…. Have Fun.

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